Fiscal measures announced for leather sector Sept 10, 2004

• o Eligible manufacturer-exporters who have already obtained Export Performance Certificate (EPC) and currently availing of the scheme, may surrender the original EPC to the Council, in the letterhead of the company. The EPCs shall be surrendered to respective Regional Offices of the Council which has issued that EPC. 
   
• The Council after receipt of EPCs shall enhance the import entitlement as per the revised duty free entitlement percentages based on the total FOB value export realization during the previous year 2003-04 as per the Bank Certificate. 
   
• The Council shall issue revised EPC, and the EPC will be stamped as 'Revised in terms of Customs Notification No.89/2004 dated 10.09.2004'. The old EPCs will be stamped as 'cancelled' and kept as office record for reference.
   
• In the back of the revised EPC, import affected as on the date of issue of revised EPC, will be entered by the Council and thereafter, subsequent entries will be made as and when import certificates are issued 

(ii) Payment of Fee:

• In respect of 5% duty free import scheme for leather garments, the fee for one-time payment has been revised from 0.020% to 0.030% of the bank certified annual export performance, subject to a minimum of Rs.3000/- Accordingly, those who have opted for one time payment will be required to pay the additional amount @0.030%.
  
  However, there will be no change for the payment of fee @ 1% of the CIF value of permitted inputs to be imported under this scheme, at the time of issuance of each import certificate, subject to a minimum of Rs.100/- (payment for single import consignment). The members who opted this fee structure, may continue to do so.
   
• In respect of 3% duty free import scheme for all leather products exclusive of leather garments, there will be no change in the fees, and a sum equivalent to 1% of the CIF value of permitted inputs to be imported under this scheme, shall be payable at the time of issuance of each import certificate, subject to a minimum of Rs.100/-.
   
• The fee will be rounded off to the next higher multiples of ten rupees.